HomeNewsBusinessEconomyGovt sets foodgrain production target at 284 MT for 2018-19

Govt sets foodgrain production target at 284 MT for 2018-19

The foodgrain output in the 2017-18 crop year (July-June) is estimated at an all-time high 277.49 million tonnes, as per the second advance estimates released by the ministry in February. The record production in last couple of years has led to fall in prices of agri-commodities and level of distress in farm sector.

April 25, 2018 / 18:40 IST
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Representative Image
Representative Image

The agriculture ministry has set a target to increase foodgrain production by over 6 million tonnes to record 283.7 million tonnes in 2018-19 crop year on hopes of weather office forecast of normal monsoon.

The foodgrain output in the 2017-18 crop year (July-June) is estimated at an all-time high 277.49 million tonnes, as per the second advance estimates released by the ministry in February. The record production in last couple of years has led to fall in prices of agri-commodities and level of distress in farm sector.

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"IMD has forecast normal monsoon this year, which indicates the likelihood of good crop production in the coming Kharif season," Agriculture Minister Radha Mohan Singh said at a national conference on agriculture for Kharif campaign.

The minister said that the minimum support price (MSP) for Kharif crops will be fixed 50 percent higher than the cost of production as announced in the Budget this year.